Ezra Gottheil, an analyst at Technology Business Reserach, said he wouldn't expect a Google music store-Google+ integration to be a big boon for either service.

"It can't hurt so I don't see it as a big deal," said Gottheil. "When Apple introduced Ping, I thought there was real potential for social networking about music, but Ping didn't seem to have much impact. I just don't see this going anywhere."

Last week, reports surfaced that despite not yet having the rights to sell songs from some of the world's biggest record labels, like Sony Music and Warner Music Group.

The new store would be linked directly to , a cloud-based service that enables users to store music and then stream it to their mobile devices or PCs. last May, it was widely speculated that an online music store would be next in line.

An online music store would be a direct challenge to Apple's enormously popular iTunes store, as well as to Amazon.com's Cloud Player, another service in the cloud. Since iTunes is far more entrenched in the marketplace, Amazon Cloud Player could be far more vulnerable to Google's attack.